Distressed Retail
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Daphne Howland/Retail Dive
Joann’s future a mystery as Michaels snaps up IP, private labels
The move comes amid growing interest in fabrics and sewing at Michaels, but it’s not clear what it means for the Joann brand.
By Daphne Howland • June 5, 2025 -
Kaarin Moore/Retail Dive
Saks Global rescues its holiday with $350M in new financing
Without the infusion, the luxury department store company would struggle to pay vendors ahead of the critical season, analysts say.
By Daphne Howland • June 2, 2025 -
Hudson’s Bay to lay off more than 9K employees by mid-June
The move affects about 90% of the workforce, with just over 100 people staying on to help the iconic Canadian department store wind down.
By Daphne Howland • May 28, 2025 -
Canadian mall developer snaps up more than 2 dozen Hudson’s Bay leases
Ruby Liu plans to open "a new modern department store concept," though it’s unclear whether the stores can continue to operate under the iconic brand.
By Daphne Howland • May 27, 2025 -
Rite Aid blames latest bankruptcy on retail operations
The drugstore retailer cites reluctant customers and recalcitrant vendors, but its crippling debt overshadows all.
By Daphne Howland • May 7, 2025 -
Permission granted by Rite Aid
Rite Aid files for bankruptcy 8 months after exiting Chapter 11
The drugstore retailer is in talks to sell itself, but could liquidate its entire footprint if no buyers emerge.
By Daphne Howland • Updated May 6, 2025 -
Daphne Howland/Retail Dive
Burlington snags 45 of Joann’s store leases out of bankruptcy
The off-price retailer is taking advantage of the craft company’s closure as new shopping center growth diminishes.
By Dani James • April 30, 2025 -
Permission granted by Liza Amlani, Retail Strategy Group
Hudson’s Bay gives up on final 7 stores, including Canada’s last Saks 5th Avenue location
The liquidation is the end of a retailer whose roots date to the 1600s, and leaves a big gap for many brands and their Canadian customers.
By Daphne Howland • April 25, 2025 -
Courtesy of The Container Store
The Container Store lays off 2% of workforce, pauses capital projects
The retailer, which exited bankruptcy in the new year, is working on a turnaround with less debt and a more streamlined operation.
By Daphne Howland • April 22, 2025 -
Forever 21 creditors probe IP sale to Authentic Brands Group
The brand management firm quietly took full ownership of the retailer's trademarks and intellectual property licenses some time in the last five years.
By Daphne Howland • April 15, 2025 -
Courtesy of Rite Aid
The Weekly Closeout: JD Sports now ‘bigger than Foot Locker’ and is Rite Aid mulling another bankruptcy?
JD Sports said it has more market share in North America than its rival retailer, while the drugstore is reportedly contemplating refiling.
By Retail Dive Staff • April 11, 2025 -
Daphne Howland/Retail Dive
ColumnThe Weekly Closeout: Hudson’s Bay hunts for a buyer and tariffs hit apparel hard
The department store is soliciting offers for part or all of its business. Meanwhile, one analyst said new tariffs put “all 2025 guidance at risk.”
By Retail Dive Staff • April 4, 2025 -
Hudson’s Bay to eliminate 200 corporate roles
Impacted employees will have their last day on Friday, while the company restructures and undergoes store liquidations.
By Kaarin Moore • April 1, 2025 -
The Container Store CEO Satish Malhotra is out
The retailer begins its post-bankruptcy turnaround with much less debt, under leadership steeped in operations and transformation strategies.
By Daphne Howland • March 20, 2025 -
Justin Sullivan via Getty Images
Forever 21 blames latest bankruptcy on competition from Temu, Shein
The fast-fashion retailer made it through the pandemic but struggled against cheap duty-free goods from China, as inflation strained consumers.
By Daphne Howland • March 17, 2025 -
Hudson’s Bay plans to liquidate
With no deal on deck, the iconic Canadian retailer will likely go out of business by June, shuttering all stores and laying off 9,000-plus employees.
By Nate Delesline III • March 17, 2025 -
Courtesy of Solo Brands
Solo Brands warns it could file for bankruptcy
The company issued a going concern statement citing challenges related to liquidity and existing debt.
By Howard Ruben • March 14, 2025 -
Permission granted by Futurewise
Skin care brand Futurewise is shutting down
The company, which entered Target just two years ago, will no longer accept orders on its website after March 24.
By Caroline Jansen • March 11, 2025 -
Hudson’s Bay Co. cites Trump tariffs in bankruptcy filing
The department store company, which also runs Saks Fifth Avenue and Saks Off 5th stores in Canada, will exit the process with a smaller footprint.
By Daphne Howland • March 10, 2025 -
Forever 21 will lay off nearly 700, close headquarters
Nine stores in California and Pennsylvania will close, as Catalyst Brands, which owns the brand’s operations, explores its options.
By Daphne Howland • Updated March 3, 2025 -
Justin Sullivan via Getty Images
What 5 charts say about the pandemic’s impact on retail, 5 years later
The industry may be far from the dramatic day-to-day struggles of 2020, but it hasn’t yet escaped the long tail the global health crisis left in its wake.
By Cara Salpini • March 3, 2025 -
Courtesy of Joann
Joann shoppers to shift purchases to Michaels, Hobby Lobby
The craft retailer’s store closures have left shoppers searching for alternatives, according to a Numerator survey.
By Tatiana Walk-Morris • Feb. 27, 2025 -
Courtesy of Joann
Joann to be sold, all stores going out of business
Pending court approval, GA Group and the company’s lenders are winding down the retailer’s operations.
By Nate Delesline III • Feb. 24, 2025 -
Nate Delesline III/Retail Dive
Store closures outpace openings amid ‘historic shift’ to service-based tenants
But the outlook isn’t all bad, as the real estate churn may open up 140 million square feet of retail space in a market where high quality storefronts are in short supply, a JLL report says.
By Nate Delesline III • Feb. 21, 2025 -
Courtesy of Joann
Joann to close more than 500 stores
The crafts retailer, which received no buyer interest in the locations, could liquidate entirely if a sale to Gordon Brothers comes to fruition.
By Nate Delesline III • Feb. 13, 2025
